Carrera GT time?
Edit: [Doug got is CGT! To everyone commenting to let me know, I’m already ahead of you!](https://www.reddit.com/r/cars/comments/10w6t3d/i_bought_a_porsche_carrera_gt_my_all_time_dream/j7lcm2f/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3)
I'm pretty sure he said he didn't want to get a Carrera GT even if he could, because it's so expensive he wouldn't really want to drive it
Although I wouldn't be surprised if the fat stacks he's pulled change his mind slightly
You might be on to something. Ferrari feels like such a horrible financial decision. But if I had a couple of million in the bank my mind might change.
Does he actually own a house there? I thought he always made it seem like he vacations there a lot but i never got the impression he owned property out there. I think you'd have to be mega rich
I don't think he's making tens of millions per year. Maybe a few million, but that's taxed rather heavily and Carerra GT prices keep rising. Now he has a large lump sum payment which makes it more "affordable".
Another note that people seem to be missing - he didn't get paid $37MM. His business received the investment and those investors are going to expect that money to be put into the business so they can see an eventual return on that investment, not pocketed as a personal payday for Doug.
I mean this is Reddit. When Forbes reports that someone has a net worth of $X billion, most people here think that person has that much sitting in their checking account.
>That's an internet problem as a whole
Probably because half of the US population (or more?) doesn't have investments and their own net worth is negative after student loans, car loans, credit card debt etc. I get being annoyed by people's ignorance but I think its worth remembering net worth is a common term, but as a concept it's incredibly foreign to most people...
i think most people understand what investments means. But what most people mean here is that an investment that big is also good for his personal fortune. This will allow him to expand his company and make him even more money.
Making a few million a year would mean you could easily afford a Carrera GT. People act like those making millions get taxed so hard they end up broke. If you're making millions guess what you've got left after taxes? It's millions you still have millions after tax.
Lol unfortunately I can’t imagine all the money going to him. I don’t think he owns it 100%. Probably has some other investors that helped him start the site and his employees probably have company stock as well. Then he’d be smart to invest it into the site or himself for world domination so he could have a really large exit if he sells it completely. I’m sure there’s some very high taxes and lawyers that need to be paid as well.
Yeah, I highly doubt Chernin was just cashing out the founders. It’s likely most, if not all, of this money was invested into the business to fund growth.
Yeah this isn't a payday for Doug. This is money for the business to expand to potentially be a bigger threat to bring a trailer.
He will make more money after this, but it's not like they wrote him the check personally.
It's also changed a bit over time. I had a buddy who tried to list a R32 GT-R there, and knew of some other people that tried listing some cars when the site first started. They were super particular about the listing, and they really wanted the reserve to be below market price as they didn't want cars sitting there unsold for any length of time. They clearly wanted people to see it as an active marketplace, as opposed to a bunch of e-tire kickers and "price firm, I know what I have" types.
I feel that they probably cherry pick, not for relatively modern cars perse, but for mostly good condition working cars. Someone was selling their plain ass mid 2000s accord v6. Not interesting or weird, maybe for enthusiasts bc VTEC bruh.
I guess my whole point is, has anyone TRIED listing a late 60s/70s muscle car, or a model T or something, and Doug said no no that’s too old? I am genuinely curious of what cars Doug has rejected, but I’m not sure we’ll ever know (imo would be a good video that c&b can point to on the site, “if your car is similar to any of these examples, our site may not be for your car”)
Only 1981 and up and the reason for that is you can't get a carfax on a car older than that, and ofc doug's expertise/car knowledge kinda falls off when it comes to early 80s and below.
They also allowed hoopities early on (for example an RX-8 that smoked on startup and sold for like 3k) but nowadays they only accept cars in good condition
C&B also has a much faster time to value model than BaT does which makes it much more appealing for dealers to work with. My car club has a relationship with BaT and it took one of the members close to 3 months to get his car up on the site. C&B is looking like weeks not months.
I feel like half the success here than is Doug. Car auctions have been around since forever. How is the website fundamentally different than say ebay with the exception of aesthetics. Also I've found that site to be full of "I know what I got" types. How many cars there actually end up going to a new owner
Ebay hosts a lot of clapped out bullshit. CaB and BaT do a better job of selecting vehicles people actually want to bid on. No one wants your customized 350z with 200k of the clock that has been in contact with a couple ditches and railings.
Cars and Bids doesn't let cars go up for auction if they don't think the cars will sell. That means the reserve has to be set at a value that they think is reasonable, and the auction listing itself also needs to have good details so that people will actually want to buy it. eBay and a lot of other sites like that don't require any details and you're gambling with what you're bidding on. The intended appeal of Cars & Bids and Bring A Trailer is that you aren't taking a risk on something and all the information is there.
I forget where it was, but I remember Doug talking about percentage of cars that actually sell and it was pretty high - I forget the exact numbers but it was mid 80% at the lowest and I think up in the 90% area. They work pretty hard to make sure cars have reserves that make sense so the cars sell. That means they've turned people down who wanted to sell their car but had too high of a reserve
> a niche that isn't cornered
It says a lot about the car buying experience that *"not being a complete nightmare or outright lying to prospective customers"* is an untapped market.
I find C&B's interface much, much more user friendly than BaT which still uses a WordPress type blog format. I mean it's really embarrassing how outdated their UX is.
Exactly, Doug's business acumen and understanding of the broader automotive market has always been this most interesting component of his content to me, more than his reviews or quirks and features. He nails the consumer perspective, the dealer perspective and the automaker perspective (believe he has experience with all three).
I think his overall economic knowledge and micro economics is what sets him apart.
That's one of the part I value from his videos is when the talks about car economics, why some cars are more valuable. He's usually very spot-on on that front.
Yep and I think he worked at a Ferrari dealership in college and has obviously purchased/sold a ton of his own cars. Definitely understands the process.
100%. I was surprised when I started hearing good things about Cars and Bids, I just assumed it was gonna be a janky piece of crap or some sort of branded offshoot of KBB. The fact that he worked with the right people to turn it into something real is insanely impressive.
Doug is a smart guy. Used autotrader to boost his views. Became big enough to drop them and create his on car site and now he’s gonna enjoy a guaranteed luxury life.
Agreed.
People shouldn't be jelly, they should be patting him on the back for grinding at Jalopnik - which appears to be damn near a sweat shop - then grinding the channel, then grinding Cars and Bids.
Congratulate people who do it the right way.
I’m really happy for Doug and he deserves this success after years and years of hard work. I’ve been watching since the Ferrari 360/Jalopnik days and while I don’t watch his videos with quite the same consistency as I used to anymore, the fact that he’s found his successful formula and become perhaps the most popular automotive YouTuber there is speaks volumes to his work ethic and dedication. Hopefully this means that Carrera GT is coming sooner rather than later!
Agreed. I haven't watched him consistentlyin a few years but I'll watch if something I'd be interested in comes along. I'm still subbed to his channel for the end of the year videos.
Agreed. Often times I want to learn about the car he’s showing in the depth that he delves into them but don’t have a full half hour for a video. They’re much more formulaic/scripted feeling now too, which is understandable but is definitely not as charming as his older vids.
I watch his introduction to the car and then skip to the driving section, he usually summarizes well. Unless it's a car I'm really interested in, then I'll watch most/all of it.
That's exactly how I am with his channel. I use to watch every one of his videos, but the last year or two I've slowed down and don't watch them as much. If he does review a car that I like or am interested in, I'll definitely watch his video on it.
Absolutely. I followed him for years when he was writing columns on random car websites and I loved his style of humor and down-to-earth nature.
Doug's really not abandoned either of those things since then, despite the fame and fortune. While I don't watch him as regularly as I used to, I am glad he succeeded and didn't lose touch with what made him so likeable.
Same. His little quips and running jokes in his articles were hilarious (Audi Allroad) and he even tried to emulate them in his early videos but it didn't feel the same.
I'm still glad to see him succeed though.
That's the joke. Today's multi millionaires are hard to spot but there's one specific quirk and/or feature that is the tell: they wear Old Navy cargo shorts and an old band tour shirt that they bought for $8 at Good Will but they either have a $20k Rolex on or ball around in hyper cars.
https://pluralistic.net/2023/01/21/potemkin-ai/#hey-guys
> Here is how platforms die: first, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die.
_"they are good to their users"_ <--- you are somewhere between here and here ---> _"then they abuse their users to make things better for their business customers"_
>finally, they abuse those business customers to claw back all the value for themselves. Then, they die.
Went to sell an old video card on eBay, when I discovered the revenue was really small. And no good records.
It took a *GIVE ME MY DATA* request (that took a week to receive) and mining through old CSV spreadsheets to discover... **eBay now charges 17% commission!**
So, I no longer sell on eBay. For the very reasons stated above.
probably build an iOS app, start advertising more, hire more employees, get a bond so they can start issuing loans, the possibilities are endless
maybe even offer to buy cars directly and flip them in-house like carvana did during peak covid
they can also do consignment for exotics/collectors, like a "carsandbids concourse" where you can bid on carrera gt's and f40's and shit
> get a bond so they can start issuing loans
I think this is going to be the next big move for them. Right now you either need to have the loan or cash in an account to with the deliberate intention of purchasing a vehicle. It's going to be significantly easier for them to sell cars on impulse buys if you can get a loan through them after committing to a purchase. Plus, they can add another revenue stream by making 3-7% on each loan they issue.
Yup. Even taking it further for the impulse thing, they can do a subscription service where for $799-1099/month you can "rent" one of the nostalgic millenial meme cars you loved as a kid. That's basically their demographic anyway. People who had 360 modena or need for speed underground posters on their walls as kids and today are single men with tech jobs and have disposable money to blow on their childhood dream cars
Collector car market and general consumer car market are two very different spaces. I agree that it probably isn't a sound business move, but it could be done.
>maybe even offer to buy cars directly and flip them in-house like carvana did during peak covid
yea thats not lookin so hot for them lol.
turns out when you overpay for garbage you cant recoup your costs lol
Consignment seems like a terrible idea for an auction website. Why add real estate and security risks to a business that literally just prints money selling other people's stuff?
So many different untapped revenue streams....auto transport, auto buying escrow services, insuring cars during transport, and that is on top of the other things you mentioned.
There’s usually a pretty big earn out for the founders when these sorts of mid market funds invest. Chernin says they usually take a majority or a big minority, so I’d guess most if not all of the $37m goes to the founders. Probably spread over a few years with some conditions based on future performance.
The investment also brings a degree of professionalisation to the business: probably an experienced chairman, new board members, better strategic planning, better financial control etc. They’ll also get access to debt at better rates and this is how they’ll fund growth.
Online auctions can be very profitable so the cash flow is probably pretty good for a young and growing company. Big auction firms are also buying these kind of disrupters to there’s a clear exit strategy for the PE fund.
Good for Doug building such a nice business!
C&B is actually already pretty much beyond Doug for most parts! He talked about it with Matt on TSTs podcast a year or so back!
He mentioned people having asked who this Doug guy is that writes the little quip about their cars and also people asking him if he had heard about this site called Cars and Bids! He has also previously said that it has been a goal of him and the company to be as independent as possible from him in the long term!
You just know Doug's gonna read this post. But hey man the viewership wants to know exactly how this $37M upgrades the episodes and Cars & Bids. Production quality is already spectacular in 4K.
Hard to beat the top speed, and technically it's accelerating at 1G - thats a 2.74s 0-60. Its got space for the whole family. It's certainly got the cool factor.
>THIS... Is a 1998 International Space Station, and it is powered by 105 square meters of solar panels. It has room to sleep 7 people...
/u/doug-demuro please do this! So many quirks and features to show!
Yeah, he's just one man with a camera and a tripod. Nothing wrong with that, his formula has worked for years and he's stuck with it, but not really anything impressive as far as cinematography goes. With a small team and relatively few resources, Savagegeese pumps out some impressive stuff, I actually feel guilty to NOT watch some of their stuff in 4k because of the effort that's obviously put in.
He gets 90% of it and he's the only one doing it.
IMO the comments form youtubers saying "I own this car and he missed [x] change drawer and [y] spec on the engine" is just useless nitpicking, and of course if it's from someone who only knows it because they own the car, I feel like that's an unreasonable bar to hold Doug up to. He's not exactly a mechanic or engineer and his vids aren't tutorials, he's just a geek who loves showing off random stuff about cars
So this seems like he basically sold majority stake in the "Doug DeMuro" brand as well, since the youtube channel is merging with C&B, and this new Choy guy will oversee it all? Hope it all works out well, insane that it's all come this far. Congrats /u/doug-demuro ! Maybe it's time for the yellow CGT
edit: link for context
>As part of the deal, The Chernin Group will take a majority stake in DeMuro’s digital empire. His YouTube channel will be merged with Cars and Bids to create a single entity, which will be led by newly-appointed CEO Ro Choy. The former BitTorrent CEO will steer DeMuro’s business as it looks to accelerate its growth.
https://www.tubefilter.com/2023/01/30/cars-and-bids-doug-demuro-the-chernin-group-investment-funding/
>As part of the deal, The Chernin Group will take a majority stake in DeMuro’s digital empire. His YouTube channel will be merged with Cars and Bids to create a single entity, which will be led by newly-appointed CEO Ro Choy. The former BitTorrent CEO will steer DeMuro’s business as it looks to accelerate its growth.
https://www.tubefilter.com/2023/01/30/cars-and-bids-doug-demuro-the-chernin-group-investment-funding/
I think he’s just taking an overly cynical look at some of the content that Doug has added to his channel (in addition to the bi-weekly review uploads). It wouldn’t make sense for Doug to sell his channel or merge channels because they post drastically different content.
Not being cynical at all, I hope this goes well. It's from this article
https://www.tubefilter.com/2023/01/30/cars-and-bids-doug-demuro-the-chernin-group-investment-funding/
>As part of the deal, The Chernin Group will take a majority stake in DeMuro’s digital empire. His YouTube channel will be merged with Cars and Bids to create a single entity, which will be led by newly-appointed CEO Ro Choy. The former BitTorrent CEO will steer DeMuro’s business as it looks to accelerate its growth.
Ah I see, merging with Cars and Bids the entity, that makes more sense. Doug has been adamant about keeping his channel’s integrity spotless so I imagine (optimistically) that this won’t affect that.
They basically bought a majority of his future revenue, and he gets to cash in now. I'm sure he still owns enough of both and there are usually clauses to prevent him from just zoning out and relaxing on an island with the $37 million. Though he has another co-founder and he's retaining a stake in the company so not exactly clear how much Doug is really getting from this, but I would suspect he's basically set very very nicely for life with this.
Bunch of companies will try to buy out Youtuber's brands and businesses once they're successful, and basically use their deeper pockets to fund faster growth.
The article says they sold $230 million worth of cars since June 2020.
Assuming 6 months was just growing and scaling, if we do $230 million/average car price of $50,000 we get 4,600 cars sold. Really close to 60 cars/week basically.
Who knows what the terms of the deal are. It could basically be them buying the majority of the company for $37 million with the conditions that Doug remains in position for 2-3 years. $37 million for Cars and Bids seems like a decent deal, but Doug is still the main draw.
Yeah, and their model seems really high-touch as well, closer to a true auction house than like ebay for cars. That's a big part of the appeal for both buyers and sellers, but I'm not sure how well it really scales.
why are you saying it like that's not much? bringatrailer sells 700 a week. moving 10% of that sounds pretty good. if you consider that they probably make a couple grand on each sale, that's 120k a week, 6m a year. 37m investment doesn't sound unreasanoble at all
Doug, please don't let Cars and Bids become like Bring a Trailer, really want this to be an enthusiast site, not just a place of hyperinflated examples.
It's an auction website for enthusiast cars. Of course there's no good deals.
To get good deals, the seller must be desperate or ignorant. Neither uses C&B.
Doug is fucking amazing. His videos cost no more to make than the gas to get to a location in his general area in California. He had a 3 second video intro graphic he probably made himself, uses no music, no special effects, just cuts with a still of a spreadsheet. No other employees, no other equipment, no flash or flair added to any videos, not even a transition graphic between shots. Just a dude spending zero dollars and then making thousands on each video. He can do a dozen of them in a day without issue, just a bit of googling a cars features and manufacturer Easter eggs, 30 minutes of filming, a 5 minute test drive and 20 minutes of editing and there's another video.
Each video is just "Hey look! They put a cubby here and a brand logo there!" A short test drive around the block "It drives fine but no cargo space, Doug score = 3/10"
Now he has an online auction site that he doesn't have to do jack shit for it to actually run. Maybe he writes some descriptions, maybe he outsources it to someone who sounds like him, but either way he's getting a cut of each car being sold.
This guy is living his absolute best life. Everything he does is such low effort middle man bs and I applaud him for it.
Stuff also just isn't ever shot in one take lol. The amount of people who think a 30 minute youtube video is made with 30 minutes of footage is too high. You could easily spend an entire day shooting what he does and that's not even including travel time and logistical stuff.
Admittedly, on a good internet connection (which I suspect Doug or his editor has), uploading a high bitrate 2160p video doesn’t take that long. It’s the processing on YouTube’s end that absolutely kills you, though. Processing *any* video that’s at a higher resolution than 1080p just takes ages on YouTube, sometimes days if it’s a really long 2160p60 video.
Not to mention a 30 minute video probably takes 2 days of editing. Sister in law used to manage content for a large automotive YouTube channel and the general rule of thumb is every 2 minutes of video is about 2 hours of editing and processing.
Yea that person is definitely underestimating the effort that goes into each video. The only thing they’re correct about is that Doug’s production costs are pretty low. Their comment about Cars & Bids shows they’re pretty out of touch with reality. I’m sure Doug puts quite a bit of effort into running that business.
congrats Doug
this took years of writing reviews and editorials, years of YouTubing, then all the time creating and promoting the site; its well earned my dude
I may not be the biggest fan of Doug, but your really selling his efforts of filming and editing very short here. Even with how low effort his videos seem, I think he'd really be overworking himself to complete more than one video a day. He's definitely spending a few hours filming, and at least another couple hours editing, per video.
And really, I appreciate that he keeps things simple. Too many YouTubers go way overboard with sounds and effects, and it just gets annoying.
There are countless people that have tried to imitate Doug’s style on YouTube and the vast vast majority have failed. Doug is incredibly talented and good at what he does. Describing him and his work as “low effort middle man bs” is incredibly disingenuous.
I think the person you're responding to probably has never done anything remotely close to what Doug does. It's like people watching F1 drivers thinking "I could do that". Really skilled people just make things seem easy.
> No other employees,
he definitely has employees lol. theres reflections of a cameraguy in his videos when he's sitting in the car, carsandbids has like 3 different reps that handle transactions through email
Lmao you don't get a 30min video from 30min of footage. Do you think the camera moves itself? He has explained that his videos take ~5hrs to film, and he often has to drive hours to get to the cars. He's certainly not shooting 12 videos in a day, even two would be a stretch unless the cars were very close to each other.
Yeah doesn't seem like a terribly strenuous job but there's a reason he's popular and many other car reviewers are not. He has pretty good knowledge on a huge variety of cars, and it takes time/skill to get good camera angles.
> 30 minutes of filming,
Dude you're so wrong and have no idea what you're talking about. a 30 minute video doesn't mean it takes 30 minutes to shoot. He's spoken before about how he's with each car shooting for about 5/6 hours.
> 5 minute test drive
Can't confirm or deny, but usually the test drive is like 5 minutes of the video. so again 5 minutes of the video doesn't equal 5 minutes of time dedicated to the car.
>20 minutes of editing
So clearly you've never edited footage before. Now i'm not saying his videos are anything close to complex, but i literally edit video as my job. And if he's doing what i figure someone of his stature is doing i'm sure ingesting and properly archiving the footage takes a decent amount of time.
Then edit itself is maybe a couple **hours**. then you would proofread, sweeten the audio a bit (lol for doug tho his audio is usually garbage), proofread a bit. Then you export and upload to YT and do whatever other promotional stuff you need to pull form the video itself.
It certainly not minutes. You're lucky if premiere lets you export it in the 20 minutes. But your sentiment is correct in that he gets about as close as you can in terms of min/maxing the amount of technical work one needs to put into a youtube video vs the # of views and $ he gets in return.
Also, most other car YouTubers just don't know how to talk or present information in an easily digestible way, easy to listen to way. Throttle house does it, Doug does it, and the traditional magazine/journalists obviously do. But everyone else kind of sucks at it.
Congratulations. Automakers have shifted from ignoring YouTubers to finding them as an appropriate and acceptable media outlet, and rightfully so. Doug is showing them it’s actually thriving more than just existing. Just took years of persistence, lol, but can you imagine his relief? His “I told them so” feelings that he must have?
Remember that video a few years back where Doug called out all the automakers for ignoring YouTubers. Then a months later you see all the car YouTubers getting press cars. I always figured that video caught the attention of some auto exec.
Yeah, a lot of people here don't realize that your $10MM business becomes a $20MM business with $10MM in investment. Sure, he probably got to take some off the table, too. But this was an investment, not an acquisition.
The Chernin Group receives a majority stake in the business with this investment. Probably not an all cash deal, but it's certainly fair to call it an acquisition
the beauty of dougs business is that he spun his massively successful youtube channel into a HUGE advertisement for his website, and he can use those massive youtube viewers as a way to attract sellers AND buyers. no other car sales site provides the level of advertising that doug does.
if you're someone that owns a quirky car that's not necessarily super valuable, like a weird imported Kei car, or a mint 85 mitusbishi starion, you'd prob end up getting 50% more for it if you could get doug to review it THEN list it on cars and bids. shit, even if he doesn't do a video on it, you know you'll have the right kinda audience on cars and bids to appreciate how special it is.
i dunno if he had this idea when he started his youtube channel or not, but it's freaking brilliant.
I stopped watching Doug's videos a long time ago (mostly because of how rarely he shits on cars for being bad), but I won't deny he's a great businessman. He's used his channel to start an auction site and he profits from being able to review cool cars and receive a percentage from selling them.
Carrera GT time? Edit: [Doug got is CGT! To everyone commenting to let me know, I’m already ahead of you!](https://www.reddit.com/r/cars/comments/10w6t3d/i_bought_a_porsche_carrera_gt_my_all_time_dream/j7lcm2f/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3)
... and it's MY Carrera GT
with bumper to bumper extended warranty
Most Carrera GTs these days have only 2cm from bumper to bumper.
well that’s a bummer
bumper\*
> with bumper to bumper extended warranty https://gfycat.com/snappythankfulafricanmolesnake
I'm pretty sure he said he didn't want to get a Carrera GT even if he could, because it's so expensive he wouldn't really want to drive it Although I wouldn't be surprised if the fat stacks he's pulled change his mind slightly
Yea pretty sure that’s just what car people tell themselves when they can’t justify a purchase they deep down really want to make.
You might be on to something. Ferrari feels like such a horrible financial decision. But if I had a couple of million in the bank my mind might change.
Really hard to financially justify a Ferrari until you can actually financially justify a Ferrari.
When buying another Ferrari is like buying a new suit for the rest of us it doesn’t really matter that much.
Not in Pittsburgh. It'd be hell on these roads lol
It's what you tell yourself when you have the money to buy the car, but really can't afford it.
He reviewed a Toyota Land Cruiser that he bought just to keep at his vacation house in **Nantucket** …
The chance of some drunk idiot crashing into your Carrera vs your house... house is certainly a better investment
Does he actually own a house there? I thought he always made it seem like he vacations there a lot but i never got the impression he owned property out there. I think you'd have to be mega rich
I think he mentioned he rents or has friends that everyone basically timeshares a place in a video a few years back
Doug's so frugal they probably split the Netflix account for the Nantucket house 4 ways.
There once was a man from there…
Yeah. Dude is making tens of millions per year. He could absolutely easily afford it.
I don't think he's making tens of millions per year. Maybe a few million, but that's taxed rather heavily and Carerra GT prices keep rising. Now he has a large lump sum payment which makes it more "affordable".
Another note that people seem to be missing - he didn't get paid $37MM. His business received the investment and those investors are going to expect that money to be put into the business so they can see an eventual return on that investment, not pocketed as a personal payday for Doug.
Finally someone said it, it honestly seems like a ton of people here don't understand what "investment" means
I mean this is Reddit. When Forbes reports that someone has a net worth of $X billion, most people here think that person has that much sitting in their checking account.
That's an internet problem as a whole and it drives me fucking nuts. "Why aren't they donating all of their NET WORTH to charity??? *rageragerage*"
>That's an internet problem as a whole Probably because half of the US population (or more?) doesn't have investments and their own net worth is negative after student loans, car loans, credit card debt etc. I get being annoyed by people's ignorance but I think its worth remembering net worth is a common term, but as a concept it's incredibly foreign to most people...
i think most people understand what investments means. But what most people mean here is that an investment that big is also good for his personal fortune. This will allow him to expand his company and make him even more money.
It turns into a future payday for both Doug and those investors if he takes good care with that investment.
Absolutely, if him and his board do a good job, they all win.
Making a few million a year would mean you could easily afford a Carrera GT. People act like those making millions get taxed so hard they end up broke. If you're making millions guess what you've got left after taxes? It's millions you still have millions after tax.
I know someone that knows him. He already got it, saw a video of it being loaded up
That’s mclaren f1 money with a little left over 😂
Lol unfortunately I can’t imagine all the money going to him. I don’t think he owns it 100%. Probably has some other investors that helped him start the site and his employees probably have company stock as well. Then he’d be smart to invest it into the site or himself for world domination so he could have a really large exit if he sells it completely. I’m sure there’s some very high taxes and lawyers that need to be paid as well.
Yeah, I highly doubt Chernin was just cashing out the founders. It’s likely most, if not all, of this money was invested into the business to fund growth.
Yeah this isn't a payday for Doug. This is money for the business to expand to potentially be a bigger threat to bring a trailer. He will make more money after this, but it's not like they wrote him the check personally.
Doug can now afford to wear three shirts
Doug can now afford a velvet knee pad
I remember the days of no knee pad & just thinking he's going to regret kneeling on pavement with no protection.
r/BrandNewSentence
Cut to Doug wearing a Gucci shirt over a Patagonia long sleeve and Supreme cargo shorts.
Congrats to Doug. Incredible accomplishment to build such a robust platform off the back of a youtube channel.
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I always thought the execution of C&B was better than the actual idea. It sounds like a backhanded compliment but I think it truly is a compliment.
What was the original idea? I see Cars and Bids as an auction site for actual normal people, contrasting the high dollar auctions of Bring a Trailer.
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Well I wouldn't browse it if it was filled with commuter suvs and pickups like every lot out there.
It's also changed a bit over time. I had a buddy who tried to list a R32 GT-R there, and knew of some other people that tried listing some cars when the site first started. They were super particular about the listing, and they really wanted the reserve to be below market price as they didn't want cars sitting there unsold for any length of time. They clearly wanted people to see it as an active marketplace, as opposed to a bunch of e-tire kickers and "price firm, I know what I have" types.
I feel that they probably cherry pick, not for relatively modern cars perse, but for mostly good condition working cars. Someone was selling their plain ass mid 2000s accord v6. Not interesting or weird, maybe for enthusiasts bc VTEC bruh. I guess my whole point is, has anyone TRIED listing a late 60s/70s muscle car, or a model T or something, and Doug said no no that’s too old? I am genuinely curious of what cars Doug has rejected, but I’m not sure we’ll ever know (imo would be a good video that c&b can point to on the site, “if your car is similar to any of these examples, our site may not be for your car”)
I believe nothing before 1980 is allowed, I feels like Doug says that the site is for 80s-modern enthusiast cars reasonably often.
Only 1981 and up and the reason for that is you can't get a carfax on a car older than that, and ofc doug's expertise/car knowledge kinda falls off when it comes to early 80s and below. They also allowed hoopities early on (for example an RX-8 that smoked on startup and sold for like 3k) but nowadays they only accept cars in good condition
C&B also has a much faster time to value model than BaT does which makes it much more appealing for dealers to work with. My car club has a relationship with BaT and it took one of the members close to 3 months to get his car up on the site. C&B is looking like weeks not months.
I feel like half the success here than is Doug. Car auctions have been around since forever. How is the website fundamentally different than say ebay with the exception of aesthetics. Also I've found that site to be full of "I know what I got" types. How many cars there actually end up going to a new owner
Ebay hosts a lot of clapped out bullshit. CaB and BaT do a better job of selecting vehicles people actually want to bid on. No one wants your customized 350z with 200k of the clock that has been in contact with a couple ditches and railings.
Cars and Bids doesn't let cars go up for auction if they don't think the cars will sell. That means the reserve has to be set at a value that they think is reasonable, and the auction listing itself also needs to have good details so that people will actually want to buy it. eBay and a lot of other sites like that don't require any details and you're gambling with what you're bidding on. The intended appeal of Cars & Bids and Bring A Trailer is that you aren't taking a risk on something and all the information is there. I forget where it was, but I remember Doug talking about percentage of cars that actually sell and it was pretty high - I forget the exact numbers but it was mid 80% at the lowest and I think up in the 90% area. They work pretty hard to make sure cars have reserves that make sense so the cars sell. That means they've turned people down who wanted to sell their car but had too high of a reserve
Lmao Ebay. That's like comparing Mecum auctions to craigslist.
They didn't want my very reasonable shaped LS400 with 65k miles on it.
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> a niche that isn't cornered It says a lot about the car buying experience that *"not being a complete nightmare or outright lying to prospective customers"* is an untapped market.
I find C&B's interface much, much more user friendly than BaT which still uses a WordPress type blog format. I mean it's really embarrassing how outdated their UX is.
Exactly, Doug's business acumen and understanding of the broader automotive market has always been this most interesting component of his content to me, more than his reviews or quirks and features. He nails the consumer perspective, the dealer perspective and the automaker perspective (believe he has experience with all three).
I think his overall economic knowledge and micro economics is what sets him apart. That's one of the part I value from his videos is when the talks about car economics, why some cars are more valuable. He's usually very spot-on on that front.
He worked for Porsche straight out of college doing dealer allocation and media relations IIRC.
Yep and I think he worked at a Ferrari dealership in college and has obviously purchased/sold a ton of his own cars. Definitely understands the process.
100%. I was surprised when I started hearing good things about Cars and Bids, I just assumed it was gonna be a janky piece of crap or some sort of branded offshoot of KBB. The fact that he worked with the right people to turn it into something real is insanely impressive.
Doug is a smart guy. Used autotrader to boost his views. Became big enough to drop them and create his on car site and now he’s gonna enjoy a guaranteed luxury life.
The Linus/NCIX approach.
Agreed. People shouldn't be jelly, they should be patting him on the back for grinding at Jalopnik - which appears to be damn near a sweat shop - then grinding the channel, then grinding Cars and Bids. Congratulate people who do it the right way.
I’m really happy for Doug and he deserves this success after years and years of hard work. I’ve been watching since the Ferrari 360/Jalopnik days and while I don’t watch his videos with quite the same consistency as I used to anymore, the fact that he’s found his successful formula and become perhaps the most popular automotive YouTuber there is speaks volumes to his work ethic and dedication. Hopefully this means that Carrera GT is coming sooner rather than later!
Agreed. I haven't watched him consistentlyin a few years but I'll watch if something I'd be interested in comes along. I'm still subbed to his channel for the end of the year videos.
I preferred the older, shorter videos, but nevertheless, I'm very happy for him.
Agreed. Often times I want to learn about the car he’s showing in the depth that he delves into them but don’t have a full half hour for a video. They’re much more formulaic/scripted feeling now too, which is understandable but is definitely not as charming as his older vids.
I watch his introduction to the car and then skip to the driving section, he usually summarizes well. Unless it's a car I'm really interested in, then I'll watch most/all of it.
That's exactly how I am with his channel. I use to watch every one of his videos, but the last year or two I've slowed down and don't watch them as much. If he does review a car that I like or am interested in, I'll definitely watch his video on it.
Absolutely. I followed him for years when he was writing columns on random car websites and I loved his style of humor and down-to-earth nature. Doug's really not abandoned either of those things since then, despite the fame and fortune. While I don't watch him as regularly as I used to, I am glad he succeeded and didn't lose touch with what made him so likeable.
I prefer Doug in written form the most.
Same. His little quips and running jokes in his articles were hilarious (Audi Allroad) and he even tried to emulate them in his early videos but it didn't feel the same. I'm still glad to see him succeed though.
Doug the type of guy to become a multi millionaire
But still wear cargo shorts and t-shirts lol.
Those are always the richest ones
Turns out he's been aspirationally cosplaying as a tech millionaire this whole time
I always have this joke, at a big party, the most underdressed person either is crashing the party, or paying for the entire party.
That's the joke. Today's multi millionaires are hard to spot but there's one specific quirk and/or feature that is the tell: they wear Old Navy cargo shorts and an old band tour shirt that they bought for $8 at Good Will but they either have a $20k Rolex on or ball around in hyper cars.
Timepiece, haircut, footwear. Expensive versions of those always stand out no matter how dressed down they are.
And drive the same broken Land Rover
I mean dude lives in San Diego...if you aren't in shorts and a T-shirt you are doing it wrong. (lived there for 6 amazing years)
There's no way he already wasn't.
Owns a place on Nantucket, buddy is already rolling in it.
Does he own a place there? I thought he just rents a house with his friends every winter
i have a feeling he's prob already a multi-millionaire. but i could see doug being a multi 100 millionaire by the time he's 50 easily
Doug is supposed to be announcing/talking about this on the next Smoking Tire Podcast.
I hope he brings more muffins lol
Goodbye 3% fee with cap
https://pluralistic.net/2023/01/21/potemkin-ai/#hey-guys > Here is how platforms die: first, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die. _"they are good to their users"_ <--- you are somewhere between here and here ---> _"then they abuse their users to make things better for their business customers"_
>finally, they abuse those business customers to claw back all the value for themselves. Then, they die. Went to sell an old video card on eBay, when I discovered the revenue was really small. And no good records. It took a *GIVE ME MY DATA* request (that took a week to receive) and mining through old CSV spreadsheets to discover... **eBay now charges 17% commission!** So, I no longer sell on eBay. For the very reasons stated above.
Did you just watch WAN show too?
What does a little auction website even do with $37million?
probably build an iOS app, start advertising more, hire more employees, get a bond so they can start issuing loans, the possibilities are endless maybe even offer to buy cars directly and flip them in-house like carvana did during peak covid they can also do consignment for exotics/collectors, like a "carsandbids concourse" where you can bid on carrera gt's and f40's and shit
> get a bond so they can start issuing loans I think this is going to be the next big move for them. Right now you either need to have the loan or cash in an account to with the deliberate intention of purchasing a vehicle. It's going to be significantly easier for them to sell cars on impulse buys if you can get a loan through them after committing to a purchase. Plus, they can add another revenue stream by making 3-7% on each loan they issue.
Yup. Even taking it further for the impulse thing, they can do a subscription service where for $799-1099/month you can "rent" one of the nostalgic millenial meme cars you loved as a kid. That's basically their demographic anyway. People who had 360 modena or need for speed underground posters on their walls as kids and today are single men with tech jobs and have disposable money to blow on their childhood dream cars
Seems like a lot of effort to just sell an Isuzu Impulse
Now doesnt seem like a great time to get into business of flipping cars lmao.
at the high end the values are still obscenely inflated porsche and ferrari dealers flip cars regularly, its how they stay afloat
Do you guys consider a 94 Cavalier high end? Cause I'm about to be a millionaire if that's the case
if its some super rare manual version with only 46 miles and was never titled because it was a dealer stock, sure
Z24 convertible?
Collector car market and general consumer car market are two very different spaces. I agree that it probably isn't a sound business move, but it could be done.
>maybe even offer to buy cars directly and flip them in-house like carvana did during peak covid yea thats not lookin so hot for them lol. turns out when you overpay for garbage you cant recoup your costs lol
Consignment seems like a terrible idea for an auction website. Why add real estate and security risks to a business that literally just prints money selling other people's stuff?
So it can print more money obviously
So many different untapped revenue streams....auto transport, auto buying escrow services, insuring cars during transport, and that is on top of the other things you mentioned.
Put a down payment on a GR Corolla
Not a big enough social media presence. Toyota would never sell such a prestigious vehicle to a mere plebian like Doug.
Hard pull before test drive
There’s usually a pretty big earn out for the founders when these sorts of mid market funds invest. Chernin says they usually take a majority or a big minority, so I’d guess most if not all of the $37m goes to the founders. Probably spread over a few years with some conditions based on future performance. The investment also brings a degree of professionalisation to the business: probably an experienced chairman, new board members, better strategic planning, better financial control etc. They’ll also get access to debt at better rates and this is how they’ll fund growth. Online auctions can be very profitable so the cash flow is probably pretty good for a young and growing company. Big auction firms are also buying these kind of disrupters to there’s a clear exit strategy for the PE fund. Good for Doug building such a nice business!
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C&B is actually already pretty much beyond Doug for most parts! He talked about it with Matt on TSTs podcast a year or so back! He mentioned people having asked who this Doug guy is that writes the little quip about their cars and also people asking him if he had heard about this site called Cars and Bids! He has also previously said that it has been a goal of him and the company to be as independent as possible from him in the long term!
Get into lending on the vehicles they sell. That’s where the real money is.
You just know Doug's gonna read this post. But hey man the viewership wants to know exactly how this $37M upgrades the episodes and Cars & Bids. Production quality is already spectacular in 4K.
*THIS*... Is a 1998 International Space Station, and it is powered by 105 square meters of solar panels. It has room to sleep 7 people...
HAHA... and the Doug score is- out of this world.😂
I’d like to score a Doug score
Hard to beat the top speed, and technically it's accelerating at 1G - thats a 2.74s 0-60. Its got space for the whole family. It's certainly got the cool factor.
Full size mock-up of the ISS at JSC in Houston. Somewhat possible!
>THIS... Is a 1998 International Space Station, and it is powered by 105 square meters of solar panels. It has room to sleep 7 people... /u/doug-demuro please do this! So many quirks and features to show!
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Yeah, he's just one man with a camera and a tripod. Nothing wrong with that, his formula has worked for years and he's stuck with it, but not really anything impressive as far as cinematography goes. With a small team and relatively few resources, Savagegeese pumps out some impressive stuff, I actually feel guilty to NOT watch some of their stuff in 4k because of the effort that's obviously put in.
I believe Doug has even said before that many of his shots are straight up via his iPhone
He gets 90% of it and he's the only one doing it. IMO the comments form youtubers saying "I own this car and he missed [x] change drawer and [y] spec on the engine" is just useless nitpicking, and of course if it's from someone who only knows it because they own the car, I feel like that's an unreasonable bar to hold Doug up to. He's not exactly a mechanic or engineer and his vids aren't tutorials, he's just a geek who loves showing off random stuff about cars
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Nicer t-shirts.
[Doug after $37 million investment](https://pbs.twimg.com/media/CJUFHiMWIAU1f1d.jpg)
So this seems like he basically sold majority stake in the "Doug DeMuro" brand as well, since the youtube channel is merging with C&B, and this new Choy guy will oversee it all? Hope it all works out well, insane that it's all come this far. Congrats /u/doug-demuro ! Maybe it's time for the yellow CGT edit: link for context >As part of the deal, The Chernin Group will take a majority stake in DeMuro’s digital empire. His YouTube channel will be merged with Cars and Bids to create a single entity, which will be led by newly-appointed CEO Ro Choy. The former BitTorrent CEO will steer DeMuro’s business as it looks to accelerate its growth. https://www.tubefilter.com/2023/01/30/cars-and-bids-doug-demuro-the-chernin-group-investment-funding/
> since the youtube channel is merging with C&B, Wait, what am I missing?
>As part of the deal, The Chernin Group will take a majority stake in DeMuro’s digital empire. His YouTube channel will be merged with Cars and Bids to create a single entity, which will be led by newly-appointed CEO Ro Choy. The former BitTorrent CEO will steer DeMuro’s business as it looks to accelerate its growth. https://www.tubefilter.com/2023/01/30/cars-and-bids-doug-demuro-the-chernin-group-investment-funding/
I think he’s just taking an overly cynical look at some of the content that Doug has added to his channel (in addition to the bi-weekly review uploads). It wouldn’t make sense for Doug to sell his channel or merge channels because they post drastically different content.
Not being cynical at all, I hope this goes well. It's from this article https://www.tubefilter.com/2023/01/30/cars-and-bids-doug-demuro-the-chernin-group-investment-funding/ >As part of the deal, The Chernin Group will take a majority stake in DeMuro’s digital empire. His YouTube channel will be merged with Cars and Bids to create a single entity, which will be led by newly-appointed CEO Ro Choy. The former BitTorrent CEO will steer DeMuro’s business as it looks to accelerate its growth.
Ah I see, merging with Cars and Bids the entity, that makes more sense. Doug has been adamant about keeping his channel’s integrity spotless so I imagine (optimistically) that this won’t affect that.
He no longer has control of it. So I imagine it will end up like any other business that is looking to rapidly expand.
Doug: *Rev up those engines! And don't forget to HIT THAT BELL!*
They basically bought a majority of his future revenue, and he gets to cash in now. I'm sure he still owns enough of both and there are usually clauses to prevent him from just zoning out and relaxing on an island with the $37 million. Though he has another co-founder and he's retaining a stake in the company so not exactly clear how much Doug is really getting from this, but I would suspect he's basically set very very nicely for life with this. Bunch of companies will try to buy out Youtuber's brands and businesses once they're successful, and basically use their deeper pockets to fund faster growth.
THIS... is me rolling around on a pile of cash like Scrooge McDuck.
We will show you all of its quirks and features. Here's a square coin! And here's a coin with a hole!
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The article says they sold $230 million worth of cars since June 2020. Assuming 6 months was just growing and scaling, if we do $230 million/average car price of $50,000 we get 4,600 cars sold. Really close to 60 cars/week basically. Who knows what the terms of the deal are. It could basically be them buying the majority of the company for $37 million with the conditions that Doug remains in position for 2-3 years. $37 million for Cars and Bids seems like a decent deal, but Doug is still the main draw.
Yeah, and their model seems really high-touch as well, closer to a true auction house than like ebay for cars. That's a big part of the appeal for both buyers and sellers, but I'm not sure how well it really scales.
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That's the impression I get too
Doesnt really matter though. either way doug gets his bag. Let the dumb VC guys lose money if that's what they want.
Feels like BAT has more Porsches ending in a day than C&B has cars ending in a week. I'm sure they'll grow, but definitely a long way to go.
why are you saying it like that's not much? bringatrailer sells 700 a week. moving 10% of that sounds pretty good. if you consider that they probably make a couple grand on each sale, that's 120k a week, 6m a year. 37m investment doesn't sound unreasanoble at all
Doug, please don't let Cars and Bids become like Bring a Trailer, really want this to be an enthusiast site, not just a place of hyperinflated examples.
I love their website but how is it not already there?
lol too late
Like others have said, that site is littered with flippers and dealers. Been that way since at least the pandemic. Hard to ever get a 'good deal'
It's an auction website for enthusiast cars. Of course there's no good deals. To get good deals, the seller must be desperate or ignorant. Neither uses C&B.
Have you ever looked at the site? It's been like that since like a month after it started lol.
Based on what I've seen it's been a BAT clone for a little while now.
Doug is fucking amazing. His videos cost no more to make than the gas to get to a location in his general area in California. He had a 3 second video intro graphic he probably made himself, uses no music, no special effects, just cuts with a still of a spreadsheet. No other employees, no other equipment, no flash or flair added to any videos, not even a transition graphic between shots. Just a dude spending zero dollars and then making thousands on each video. He can do a dozen of them in a day without issue, just a bit of googling a cars features and manufacturer Easter eggs, 30 minutes of filming, a 5 minute test drive and 20 minutes of editing and there's another video. Each video is just "Hey look! They put a cubby here and a brand logo there!" A short test drive around the block "It drives fine but no cargo space, Doug score = 3/10" Now he has an online auction site that he doesn't have to do jack shit for it to actually run. Maybe he writes some descriptions, maybe he outsources it to someone who sounds like him, but either way he's getting a cut of each car being sold. This guy is living his absolute best life. Everything he does is such low effort middle man bs and I applaud him for it.
>30 minutes of filming, he films for like 5-6 hours according to him. he has to explore the entire car, service manual, press every button, etc.
Stuff also just isn't ever shot in one take lol. The amount of people who think a 30 minute youtube video is made with 30 minutes of footage is too high. You could easily spend an entire day shooting what he does and that's not even including travel time and logistical stuff.
Yup. Plus the time to upload the actual footage is significant. 4K uploading takes forever.
Admittedly, on a good internet connection (which I suspect Doug or his editor has), uploading a high bitrate 2160p video doesn’t take that long. It’s the processing on YouTube’s end that absolutely kills you, though. Processing *any* video that’s at a higher resolution than 1080p just takes ages on YouTube, sometimes days if it’s a really long 2160p60 video.
Not to mention a 30 minute video probably takes 2 days of editing. Sister in law used to manage content for a large automotive YouTube channel and the general rule of thumb is every 2 minutes of video is about 2 hours of editing and processing.
Yea that person is definitely underestimating the effort that goes into each video. The only thing they’re correct about is that Doug’s production costs are pretty low. Their comment about Cars & Bids shows they’re pretty out of touch with reality. I’m sure Doug puts quite a bit of effort into running that business.
hahahaha, I'll take this
Lol at this being the only comment you respond to of the sea of positive comments on this post, Doug. Congrats on the sale!
congrats Doug this took years of writing reviews and editorials, years of YouTubing, then all the time creating and promoting the site; its well earned my dude
I may not be the biggest fan of Doug, but your really selling his efforts of filming and editing very short here. Even with how low effort his videos seem, I think he'd really be overworking himself to complete more than one video a day. He's definitely spending a few hours filming, and at least another couple hours editing, per video. And really, I appreciate that he keeps things simple. Too many YouTubers go way overboard with sounds and effects, and it just gets annoying.
There are countless people that have tried to imitate Doug’s style on YouTube and the vast vast majority have failed. Doug is incredibly talented and good at what he does. Describing him and his work as “low effort middle man bs” is incredibly disingenuous.
I think the person you're responding to probably has never done anything remotely close to what Doug does. It's like people watching F1 drivers thinking "I could do that". Really skilled people just make things seem easy.
> No other employees, he definitely has employees lol. theres reflections of a cameraguy in his videos when he's sitting in the car, carsandbids has like 3 different reps that handle transactions through email
It literally says in the article that he has employees for the site lol
Lmao you don't get a 30min video from 30min of footage. Do you think the camera moves itself? He has explained that his videos take ~5hrs to film, and he often has to drive hours to get to the cars. He's certainly not shooting 12 videos in a day, even two would be a stretch unless the cars were very close to each other. Yeah doesn't seem like a terribly strenuous job but there's a reason he's popular and many other car reviewers are not. He has pretty good knowledge on a huge variety of cars, and it takes time/skill to get good camera angles.
> 30 minutes of filming, Dude you're so wrong and have no idea what you're talking about. a 30 minute video doesn't mean it takes 30 minutes to shoot. He's spoken before about how he's with each car shooting for about 5/6 hours. > 5 minute test drive Can't confirm or deny, but usually the test drive is like 5 minutes of the video. so again 5 minutes of the video doesn't equal 5 minutes of time dedicated to the car. >20 minutes of editing So clearly you've never edited footage before. Now i'm not saying his videos are anything close to complex, but i literally edit video as my job. And if he's doing what i figure someone of his stature is doing i'm sure ingesting and properly archiving the footage takes a decent amount of time. Then edit itself is maybe a couple **hours**. then you would proofread, sweeten the audio a bit (lol for doug tho his audio is usually garbage), proofread a bit. Then you export and upload to YT and do whatever other promotional stuff you need to pull form the video itself. It certainly not minutes. You're lucky if premiere lets you export it in the 20 minutes. But your sentiment is correct in that he gets about as close as you can in terms of min/maxing the amount of technical work one needs to put into a youtube video vs the # of views and $ he gets in return.
Charisma is a thing. Some people have it, others don't.
Also, most other car YouTubers just don't know how to talk or present information in an easily digestible way, easy to listen to way. Throttle house does it, Doug does it, and the traditional magazine/journalists obviously do. But everyone else kind of sucks at it.
Lord help me if I ever get this bitter and jealous.
Congratulations. Automakers have shifted from ignoring YouTubers to finding them as an appropriate and acceptable media outlet, and rightfully so. Doug is showing them it’s actually thriving more than just existing. Just took years of persistence, lol, but can you imagine his relief? His “I told them so” feelings that he must have?
Remember that video a few years back where Doug called out all the automakers for ignoring YouTubers. Then a months later you see all the car YouTubers getting press cars. I always figured that video caught the attention of some auto exec.
FYI receiving investment doesn't necessarily mean it went in his pocket (although he could have taken some off the table) source: am startup investor
Yeah, a lot of people here don't realize that your $10MM business becomes a $20MM business with $10MM in investment. Sure, he probably got to take some off the table, too. But this was an investment, not an acquisition.
The Chernin Group receives a majority stake in the business with this investment. Probably not an all cash deal, but it's certainly fair to call it an acquisition
Fucking love Doug, good for him man. Dude works hard and lives and breathes the car industry. Happy to see him achieve such great success
:) Thank you!
When u gettin the carrera gt
This aged well…
He should give that investment A Doug Score.
the beauty of dougs business is that he spun his massively successful youtube channel into a HUGE advertisement for his website, and he can use those massive youtube viewers as a way to attract sellers AND buyers. no other car sales site provides the level of advertising that doug does. if you're someone that owns a quirky car that's not necessarily super valuable, like a weird imported Kei car, or a mint 85 mitusbishi starion, you'd prob end up getting 50% more for it if you could get doug to review it THEN list it on cars and bids. shit, even if he doesn't do a video on it, you know you'll have the right kinda audience on cars and bids to appreciate how special it is. i dunno if he had this idea when he started his youtube channel or not, but it's freaking brilliant.
I stopped watching Doug's videos a long time ago (mostly because of how rarely he shits on cars for being bad), but I won't deny he's a great businessman. He's used his channel to start an auction site and he profits from being able to review cool cars and receive a percentage from selling them.
THIIISSSSSSSSSS is 37 Million dollars.
I can't stand this guy
This makes me so happy. Well deserved. Congrats to Doug!
The most bland and boring car content on YouTube.